Business insurance costs for accountants vary significantly by coverage type. MoneyGeek's analysis shows monthly premiums range from $20 for workers' compensation to $146 for professional liability coverage.
How Much Does Accountants' Business Insurance Cost?
Business insurance for accountants starts at $20 per month, though your specific business details and coverage needs will determine your final rate.
Discover cheap accountants' business insurance below.

Updated: August 18, 2025
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Key Takeaways
Accountants' business insurance costs range from $20 to $146 monthly, with professional liability coverage representing the highest expense.
Your accountants' insurance premiums depend on location, claims history, property types serviced and employee count.
Shop multiple insurers, bundle policies, increase deductibles and pay annually to find affordable accountants' business insurance costs.
Average Accountants' Business Insurance Cost Overall
BOP | $32 |
General Liability | $22 |
Professional Liability (E&O) | $146 |
Workers Comp | $20 |
How did we determine these rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus on four coverage types: general liability, professional liability/E&O, workers' comp and business owner's policy. Survey results reflect limited sample data and may not represent all available rates in your area.
Compare Small business Insurance Rates
Ensure you're getting the best rate for your small business insurance. Compare quotes from the top insurance companies.
Accountants' Business Insurance Cost for General Liability Coverage by State
Your accountants' business insurance cost for general liability coverage depends on where you operate. North Carolina offers the most savings at $19 monthly (versus the $22 national average), helping you make informed business decisions.
Alabama | $22 |
Alaska | $20 |
Arizona | $21 |
Arkansas | $21 |
California | $25 |
Colorado | $22 |
Connecticut | $24 |
Delaware | $24 |
Florida | $24 |
Georgia | $22 |
Hawaii | $24 |
Idaho | $21 |
Illinois | $24 |
Indiana | $22 |
Iowa | $21 |
Kansas | $22 |
Kentucky | $21 |
Louisiana | $25 |
Maine | $19 |
Maryland | $21 |
Massachusetts | $23 |
Michigan | $21 |
Minnesota | $21 |
Mississippi | $22 |
Missouri | $22 |
Montana | $22 |
Nebraska | $21 |
Nevada | $25 |
New Hampshire | $22 |
New Jersey | $25 |
New Mexico | $22 |
New York | $26 |
North Carolina | $19 |
North Dakota | $19 |
Ohio | $21 |
Oklahoma | $21 |
Oregon | $21 |
Pennsylvania | $26 |
Rhode Island | $24 |
South Carolina | $23 |
South Dakota | $21 |
Tennessee | $22 |
Texas | $22 |
Utah | $21 |
Vermont | $21 |
Virginia | $20 |
Washington | $25 |
West Virginia | $23 |
Wisconsin | $22 |
Wyoming | $20 |
How did we determine these rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on general liability policies. Survey results reflect limited sample data and may not represent all available rates in your area.
Accountants' Business Insurance Cost for Workers’ Compensation Coverage by State
Your accountants' business insurance cost for workers' compensation varies by state. Maine offers the lowest rates at $18 monthly and New York the highest at $24 monthly. Our analysis reveals how state regulations and claim histories create these differences.
Alabama | $20 |
Alaska | $19 |
Arizona | $19 |
Arkansas | $20 |
California | $23 |
Colorado | $20 |
Connecticut | $22 |
Delaware | $22 |
Florida | $22 |
Georgia | $21 |
Hawaii | $21 |
Idaho | $19 |
Illinois | $22 |
Indiana | $20 |
Iowa | $19 |
Kansas | $20 |
Kentucky | $19 |
Louisiana | $23 |
Maine | $18 |
Maryland | $19 |
Massachusetts | $21 |
Michigan | $19 |
Minnesota | $19 |
Mississippi | $21 |
Missouri | $20 |
Montana | $20 |
Nebraska | $20 |
Nevada | $23 |
New Hampshire | $20 |
New Jersey | $23 |
New Mexico | $20 |
New York | $24 |
North Carolina | $18 |
Oklahoma | $19 |
Oregon | $19 |
Pennsylvania | $23 |
Rhode Island | $23 |
South Carolina | $21 |
South Dakota | $19 |
Tennessee | $20 |
Texas | $21 |
Utah | $19 |
Vermont | $20 |
Virginia | $18 |
West Virginia | $21 |
Wisconsin | $20 |
How did we determine these rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on workers’ comp policies. Workers' compensation requirements vary by state and are mandated by state regulations. Survey results reflect limited sample data and may not represent all available rates in your area.
Accountants' Business Insurance Cost for Professional Liability Coverage by State
Similar to other insurance types, your cost for professional liability varies by state. The national average is $146 monthly, with North Dakota offering the lowest rates at $125 monthly and E&O insurance in Washington costing $169 monthly.
Alabama | $148 |
Alaska | $133 |
Arizona | $137 |
Arkansas | $141 |
California | $159 |
Colorado | $144 |
Connecticut | $156 |
Delaware | $155 |
Florida | $160 |
Georgia | $149 |
Hawaii | $151 |
Idaho | $140 |
Illinois | $164 |
Indiana | $142 |
Iowa | $138 |
Kansas | $142 |
Kentucky | $139 |
Louisiana | $163 |
Maine | $126 |
Maryland | $141 |
Massachusetts | $152 |
Michigan | $138 |
Minnesota | $137 |
Mississippi | $147 |
Missouri | $145 |
Montana | $144 |
Nebraska | $141 |
Nevada | $164 |
New Hampshire | $147 |
New Jersey | $165 |
New Mexico | $146 |
New York | $168 |
North Carolina | $125 |
North Dakota | $125 |
Ohio | $132 |
Oklahoma | $140 |
Oregon | $135 |
Pennsylvania | $168 |
Rhode Island | $158 |
South Carolina | $151 |
South Dakota | $139 |
Tennessee | $140 |
Texas | $148 |
Utah | $141 |
Vermont | $141 |
Virginia | $131 |
Washington | $169 |
West Virginia | $152 |
Wisconsin | $143 |
Wyoming | $133 |
How did we determine these rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on professional liability policies. Survey results reflect limited sample data and may not represent all available rates in your area.
Accountants' Business Insurance Cost for BOP Coverage by State
Business owner's policy rates show variation in accountants’ business insurance costs nationwide. Monthly premiums range from $27 in Maine to $38 in Pennsylvania.
Alabama | $31 |
Alaska | $29 |
Arizona | $31 |
Arkansas | $31 |
California | $36 |
Colorado | $32 |
Connecticut | $36 |
Delaware | $35 |
Florida | $36 |
Georgia | $33 |
Hawaii | $35 |
Idaho | $31 |
Illinois | $36 |
Indiana | $32 |
Iowa | $31 |
Kansas | $31 |
Kentucky | $30 |
Louisiana | $38 |
Maine | $27 |
Maryland | $31 |
Massachusetts | $34 |
Michigan | $30 |
Minnesota | $30 |
Mississippi | $32 |
Missouri | $32 |
Montana | $33 |
Nebraska | $30 |
Nevada | $37 |
New Hampshire | $32 |
New Jersey | $36 |
New Mexico | $33 |
New York | $37 |
North Carolina | $28 |
North Dakota | $29 |
Ohio | $30 |
Oklahoma | $31 |
Oregon | $31 |
Pennsylvania | $38 |
Rhode Island | $36 |
South Carolina | $34 |
South Dakota | $30 |
Tennessee | $31 |
Texas | $33 |
Utah | $31 |
Vermont | $31 |
Virginia | $30 |
Washington | $37 |
West Virginia | $34 |
Wisconsin | $31 |
Wyoming | $30 |
How did we determine these rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on BOP coverage. Survey results reflect limited sample data and may not represent all available rates in your area.
Factors Affecting Accountants' Business Insurance Cost
Insurance costs for your accounting business depend on several factors that insurers review to set premiums. Understanding these elements helps with budget planning. Let's examine what affects your rates.
Geographic location
Your business location affects workers' compensation rates due to local regulations and claim frequencies. Regional differences in lawsuit trends and professional liability risks create premium variations between states.
Safety record and claims history
Previous claims impact future premiums, sometimes for three to five years. A single professional liability claim can substantially increase your general liability rates at renewal.
Employee Count and Payroll
Insurers calculate workers' comp premiums based on your total payroll and job classifications. Adding employees increases your payroll costs, directly impacting your workers' compensation premiums since insurers calculate your rates per dollar of wages paid.
Business Size and Revenue
Higher annual revenue means higher premiums since insurers view larger operations as having greater exposure to claims. For example, a solo accountant earning $100,000 annually pays less than an accounting firm with $1 million in revenue.
Coverage limits
Higher coverage limits provide better protection but cost more monthly. Choosing between different coverage amounts directly affects your premium, with higher limits increasing costs proportionally.
Credit score and financial stability
In most states, insurers can consider your business credit score when setting rates. A strong credit score can reduce premiums, while poor credit often increases costs substantially.
How to Get Cheap Accountants' Business Insurance
Smart shopping and risk management strategies can help accountants secure more affordable business insurance coverage, and the proven tips below offer both immediate and long-term ways to reduce your premiums.
- 1
Choose the right coverage types for your business
Understanding what types of business insurance your accounting firm needs prevents overpaying for unnecessary coverage. Professional liability insurance protects against errors in financial advice or tax preparation. General liability covers office visitors, while cyber liability safeguards against data breaches of client financial information.
- 2
Shop multiple insurance companies
Insurance rates for accounting firms can vary significantly between providers. Request quotes from at least three insurers to find the best rates. Consider working with an independent agent who specializes in professional services coverage to access multiple carriers.
- 3
Bundle your coverage types
Most insurers offer substantial discounts when you bundle multiple policies. Combining professional liability, general liability, and business property insurance with one carrier typically costs less than separate policies from different providers.
- 4
Increase your deductibles
Choosing higher deductibles reduces your monthly premiums. Consider your firm's financial stability when selecting deductible amounts, ensuring you can comfortably cover them if needed.
- 5
Pay annually instead of monthly
Insurance companies often add processing fees for monthly payments. Paying your premium annually eliminates these fees and may qualify you for additional discounts.
- 6
Review and adjust your coverage annually
Reassess your insurance needs as your accounting practice grows. Update coverage limits based on client volume, staff size, and service offerings. Remove unnecessary coverage and adjust limits to match your current business operations.
Insurance for Accountants' Business Cost: Bottom Line
Accountants business insurance costs range from $20 to $146 monthly, with your location, claims history and business size driving your actual premium. Getting quotes from multiple insurers, bundling your policies, choosing higher deductibles and paying annually instead of monthly helps you find more affordable rates.
Accountants' Business Insurance Cost: FAQ
Business owners often ask about accountants' company insurance costs, and we've gathered expert answers to the most common questions below.
What is the cheapest type of accountants' business insurance?
Workers' compensation insurance costs $20 monthly for accountants' businesses, making it the most affordable option. However, most accountants need general liability insurance ($22 monthly) to protect against customer injuries and property damage claims.
How much can I save by bundling my accountants' business insurance policies?
Bundling multiple policies like general liability, BOP and workers' compensation with one insurance carrier offers the most cost-effective coverage for accountants' businesses, with potential savings of 10 to 25%.
What factors make my accountants' business insurance more expensive?
The location of your business and number of employees can make your insurance more expensive.
General liability insurance offers the most cost-effective coverage for accountants' businesses, with monthly premiums starting at $22. This basic protection covers common risks like customer injuries and property damage.
Should I choose a $500 or $2,500 deductible for my accountants' business insurance?
Higher deductibles mean lower monthly premiums but require more out-of-pocket costs when filing claims. Consider your available cash flow and claim frequency when choosing your deductible amount.
How much does workers' compensation cost for accountants' businesses by state?
Workers' compensation insurance costs vary across states, ranging from $18 monthly in North Carolina to $24 monthly in New York. Costs fluctuate based on your business location and risk factors.
Is business owner's policy (BOP) worth the extra cost for accountants' companies?
BOP insurance for accountants costs $32 monthly on average and bundles general liability, commercial property and business interruption coverage. This comprehensive package delivers more value than purchasing policies separately.
How often should I shop around for accountants' business insurance quotes?
Review your business insurance quotes annually during renewal time. Compare at least three insurers to find better rates, particularly if your accounting practice has grown or changed.
How We Determined Accountants' Business Insurance Costs
We collected accountants' business insurance quotes from companies across different states. To make sure we compared apples to apples, every quote used the same business setup:
- Two employees (three people total, including the owner)
- $150,000 annual payroll
- $300,000 annual revenue
- Already insured status
- $1 million per occurrence and $2 million total per year for all coverage except BOP, which includes the same limits plus $5,000 business property coverage
This profile represents small accountants' businesses requiring comprehensive insurance coverage in most states. We chose companies offering broad national coverage and online quote capabilities, focusing on insurers that actively serve the accountants' industry.
About Mark Fitzpatrick

Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.